Funding round
Finqware Seed
Finqware, which works in open banking solutions development in Cluj-Napoca, raised $610K in a Seed round announced on 21 Jan 2021, led by Elevator Ventures. 3 firms took part.
$610K
Amount raised
500,000 EUR converted
Not disclosed
Post-money valuation
3
Investors
1 lead
Valuation
What this round says about the price
Finqware did not disclose a valuation in this round. It is Finqware's first venture round on record, 3 years after it was founded in 2018. No later venture round is on record for Finqware.
Finqware's funding rounds
This is the only venture round on record for Finqware.
- Seed this round 21 Jan 2021, led by Elevator Ventures $610K
Investors
Who put money in
Elevator Ventures led the round with 2 other firms.
Lead investor
- backs 14 venture-backed companies new investor
Also in the round
- GapMinder backs 21 venture-backed companies new investor
- Raiffeisen Bank International new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, geographic expansion, sales and marketing, scaling operations and working capital.
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
1,846 Seed rounds in Tech Companies within a year either side disclosed an amount; the median was $2.8M, and this round was 22% of the median. The closest in time, other companies' Seed rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Tech Companies | 18 Jan 2021 | $50M | not disclosed | Alameda Research |
| Tech Companies | 16 Jan 2021 | $25M | not disclosed | not named |
| Tech Companies | 1 Jan 2021 | $19M | not disclosed | Bessemer Venture Partners |
| Tech Companies | 26 Jan 2021 | $16M | not disclosed | Lightspeed Venture Partners |
| Tech Companies | 1 Jan 2021 | $10M | not disclosed | Blackbird |
| Tech Companies | 27 Jan 2021 | $10M | not disclosed | Wing Venture Capital |
| Tech Companies | 1 Jan 2021 | $8.0M | $47M | Amplify Partners |
| Tech Companies | 1 Jan 2021 | $7.5M | not disclosed | not named |
Sources
Where this comes from
Reported by 4 sources.
Questions
Frequently asked
How much did Finqware raise in its Seed round?
Finqware raised $610K in its Seed round, announced in Jan 2021.
Who led Finqware's Seed round?
Elevator Ventures led it, with GapMinder and Raiffeisen Bank International.
What was Finqware's valuation at the Seed round?
It was not disclosed.
How does it compare with other Seed rounds in Tech Companies?
1,846 Seed rounds in Tech Companies within a year either side disclosed an amount; the median was $2.8M, and this round was 22% of the median.